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IEA: global electricity demand growing faster than renewables, driving strong increase in generation from coal

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Renewables are expanding quickly but not enough to satisfy a strong rebound in global electricity demand this year, resulting in a sharp rise in the use of coal power that risks pushing carbon dioxide emissions from the electricity sector to record levels next year, according to a new report from the International Energy Agency.

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BloombergNEF: solar, wind, batteries to attract $10T to 2050; curbing emissions long-term will require other technologies

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Deep declines in wind, solar and battery technology costs will result in a grid nearly half-powered by the two fast-growing renewable energy sources by 2050, according to the latest projections from BloombergNEF (BNEF). Wind and solar grow from 7% of generation today to 48% by 2050. —Matthias Kimmel, NEO 2019 lead analyst.

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BNEF: cost of new renewables rises as inflation starts to bite

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The cost of new-build onshore wind has risen 7% year on year, and fixed-axis solar has jumped 14%, according to the latest analysis by research company BloombergNEF (BNEF). The global benchmark levelized cost of electricity, or LCOE, has retreated to where it was in 2019. The latter cost at $74 and $81 per MWh, respectively.

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Consortium developing green hydrogen megaproject in Oman

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The consortium has been collaborating on the project for more than three years, which will consist of 25 gigawatts (GW) of renewable solar and wind energy at full capacity to produce millions of tons of zero-carbon green hydrogen per annum. Green hydrogen is expected by some to grow into a US$2.5-trillion trillion market by.

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BNEF, Snam, IGU report finds global gas industry set to resume growth post-pandemic; low-carbon technologies for long-term growth

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After growing by more than 2% in 2019, global gas use is set to fall by around 4% in 2020, as the COVID-19 pandemic reduces energy consumption across the global economies. LNG imports reached 482 billion cubic meters in 2019, up 13% from 2018, and while this figure is expected to fall by around 4.2% MMbtu in Russia, $8.7/MMbtu

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1 in 5 new car sales globally were EVs in 2023, and that’s curbed oil demand – IEA

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Photo: Tesla Without EVs, solar, wind, and nuclear, the global rise in emissions in the last five years would have been three times larger, new International Energy Agency (IEA) analysis shows. Their emissions dropped to a 50-year low while coal demand fell back to levels not seen since the early 1900s.

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